Thai food firm CPF to acquire Chia Tai Food Enterprise
summary：Thai food manufacturer Charoen Pokphand Foods (CPF plans to acquire Chia Tai Food Enterprise....
Thai food manufacturer Charoen Pokphand Foods (CPF) plans to acquire Chia Tai Food Enterprise, a manufacturer and distributor of meat and ready-to-eat products in China for THB483m ($15.8m).The transaction will be made through CP China Investment (CPCI), a wholly owned subsidiary of CPP (76% owned by CPF).
Chia Tai Food Enterprise is being sold by Chia Tai Food Investment (CTFI), itself a subsidiary of the Charoen Pokphand Group (CPG), which is a major shareholder of CPF.
The acquisition will enable CPF to involve in the manufacture and distribution of processed food and ready meals in China and transform itself into a leader in the food business in the country.
The production is estimated at 10,000 tons in the first year after the launch and will be gradually increased to a full capacity of 100,000 tones.
CPF is a leading producer of animal feed and shrimp. It also has operations in the UK, where it produces Thai food for the supermarkets.